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A&B are partners sharing profit in2:3.they …

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A&B are partners sharing profit in2:3.they admitted a new partner C. On the C's admission A&B have accumulated reserve of 20000and debit balance of profit and loss account .pass journal entry if they want to show the reserve and profit in their new book.

Posted by Shaily Rajput 6 years, 9 months ago

CBSE > Class 12 > Accountancy

2 answers

Shaily Rajput 6 years, 9 months ago

But they wanted to show resreve and profit in their new book

Keshav Bhatter 6 years, 9 months ago

Reserve a/c dr. 20000 P&L a/c dr. _______ To A's cap. a/c 8000 To B's cap. a/c 12000 Yo had not mentioned the amount of profit

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